i am haveing a problem with my 1969 40 hp johnson water in the lower part of the engine where the prop shaft is located should have oil but there was no oil just water, can someone help me
You need to replace a few o-rings and bushings down there. Oil is seeping out and being replaced by the water. Hopefully it hasn't completely damaged the pinion.
Your best bet is to buy a manual. Iboats probably sell one if you look. You'll need one to dismantle a lower unit-but it'll save you a fortune in the long run.